Navitas Semiconductor Corporation (NASDAQ:NVTS) Stock Has Average Target Price of $15.92 According to Analysts

Key Points

• Analyst sentiment is mixed: Six firms have a consensus “Hold” rating on Navitas Semiconductor, split evenly among buy, hold and sell recommendations. The average 12-month price target is $15.92, compared with a recent share price of $11.84.
• Navitas reported quarterly revenue of $10.53 million, above the $9.97 million consensus estimate, while its adjusted loss of $0.04 per share matched expectations. Revenue declined 27.3% year over year, and analysts forecast a full-year loss of $0.31 per share.
• Institutional ownership has increased, with BlackRock and Connor Clark & Lunn establishing sizable positions and Tidal Investments raising its holdings by 161.2%; institutions collectively own 46.14% of the stock.

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) have been given a consensus recommendation of "Hold" by the six ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $15.92.

Several research analysts have recently issued reports on NVTS shares. Morgan Stanley restated an "underweight" rating and issued a $12.60 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Rosenblatt Securities restated a "neutral" rating and set a $13.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Jefferies Financial Group set a $13.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $21.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th.

Navitas Semiconductor Price Performance

Shares of NVTS stock opened at $11.84 on Friday. The company has a market capitalization of $3.09 billion, a PE ratio of -8.90 and a beta of 3.88. Navitas Semiconductor has a 12 month low of $6.22 and a 12 month high of $34.17. The firm's 50-day moving average is $12.04 and its two-hundred day moving average is $15.05.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its earnings results on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $10.53 million during the quarter, compared to the consensus estimate of $9.97 million. Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.Navitas Semiconductor's revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.25) EPS. Sell-side analysts forecast that Navitas Semiconductor will post -0.31 EPS for the current year.

Institutional Trading of Navitas Semiconductor

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Navitas Semiconductor during the 2nd quarter worth $290,970,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Navitas Semiconductor during the 2nd quarter valued at about $75,701,000. Tidal Investments LLC increased its holdings in Navitas Semiconductor by 161.2% during the 2nd quarter. Tidal Investments LLC now owns 1,132,184 shares of the company's stock valued at $20,289,000 after acquiring an additional 698,683 shares in the last quarter. Wellington Management Group LLP acquired a new position in Navitas Semiconductor during the second quarter worth about $16,757,000. Finally, Bank of America Corp DE raised its position in shares of Navitas Semiconductor by 17.2% during the 1st quarter. Bank of America Corp DE now owns 826,674 shares of the company's stock worth $7,250,000 after purchasing an additional 121,162 shares during the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation NASDAQ: NVTS develops gallium nitride (GaN) and silicon carbide (SiC) power semiconductor technologies. Its products are designed to improve the efficiency, power density and size of power-conversion systems used in electronic devices and infrastructure.

The company offers GaN power integrated circuits, including its GaNFast product family, as well as SiC devices and related technologies marketed under the GeneSiC brand. Its products are used in applications such as mobile and consumer chargers, data centers, solar and energy-storage systems, electric vehicles, appliances, industrial equipment and other high-power systems.

Founded in 2014, Navitas is headquartered in Torrance, California, and serves customers and markets internationally.

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